Current EDF Fix coming to an end

thor

spot1034 wrote: »

Yesterday morning, Bob Parker, a financial analyst, said on CNBC that he thinks gas prices in Europe might well fall back a bit in the forthcoming year

So if the wholesale price does drop this year you expect bills to drop a few months down the line. From past experiences, I don't. Utilities know that if they start a price war then they will lose out on extra profit. If tariffs stay as they are then why would EDF, BG etc do anything to upset the apple cart?

wakeupalarm

spot1034 wrote: »

Well they do buy in advance, whereas much of the criticism around this issue is based on day to day wholesale prices. If you want to pay the going rate at any time, you might sometimes get a cheaper deal but you might also find yourself paying two or three times as much as the unit rate on your tariff if there is a shortage for any reason (such as very cold weather or a major power station going offline) which does happen from time to time. Energy companies do sometimes have to buy at this level and just have to absorb this and take the hit - i.e. they make a considerable loss which has to be balanced against profit at other times. How come people like Miliband and Flint have no appreciation of this? Answer - because it doesn't serve their political agenda of jumping on every passing populist bandwagon.

Anyway, my point is that these are changes to the market price not just for delivery today or tomorrow but looking ahead many months. If the trend continues, this will be good news for consumers, assuming Labour don't get in and freeze prices at the higher level. Yesterday morning, Bob Parker, a financial analyst, said on CNBC that he thinks gas prices in Europe might well fall back a bit in the forthcoming year

Time after time it has been shown that the energy cartel do not pass on cuts in wholesale prices and use the excuse "we buy up to 2 years in advance", on the other hand when wholesale prices increase they are passed onto customers with in a few weeks. This has been raised in parliment so often that the energy cartel has stopped using this excuse for a while now. But as wholesale prices and futures are dropping now expect the old excuse to be wheeled out soon.

thor

What you said wakeupalarm. I just wish I could hit the thank you buttons a few more times.

molerat

I see the GreenStar 2 year has gone and replaced by a new one around 5% dearer.

warmy

Hi I 2 am started to look at this edf is looking more expensive than other suppliers the edf contract ends at the end of April as gas and electricity prices are only going 1 way and that's more expensive I'm going 4 a long fix but not sure who with yet .what date do I need to switch supplier before my contract with edf ends?

molerat

There is no penalty with the EDF fix so you can change whenever you want, probably start at the beginning of April to get the most out of the current deal.

MillicentBystander

EDF's new fixed tariffs are nowhere near
as competitive as they used to be, are they? My EDf fix is also up in April but it's highly unlikely I will be staying lol.

warmy

MillicentBystander wrote: »

EDF's new fixed tariffs are nowhere near
as competitive as they used to be, are they? My EDf fix is also up in April but it's highly unlikely I will be staying lol.

No they are not there are nothing as cheap and will be paying more .but our existing edf tarrif is the best tarrif at the moment until it ends not sure weather to switch early or get the last bit out of this tarrif .not sure what date to switch if I stayed to the end of April.

brewerdave

I'm aiming to look for switch away from EDF @ the beginning of April -don't want to do it earlier in case Winter really arrives and, like last year,its very cold til mid May.
Like most people I'm hoping that there will be a reasonble fixed deal out there to switch to, not the EDF fix til 2017 which would increase my montly outgoings by £34 per month:eek:

molerat

The bad news is that it is currently NPower's turn to have the cheap tariff